The purchase price was approximately $167 million, net of certain post-closing adjustments, and was funded out of j2’s cash on hand.

According to Wikipedia, 2 Global provides messaging and communications services to individuals and businesses worldwide. Ziff Davis was founded in 1927 in Chicago by William B. Ziff and Bernard Davis.

Throughout most of its history, Ziff Davis was a publisher of hobbyist magazines, such as cars, photography, computer and technology related magazines. The company filed for Chapter 11 bankruptcy protection on March 5, 2008. and was sold to to UGO Entertainment, a division of Hearst Corporation, in 2009.

Global internet advertising expenditures will rise about 31.5% between 2011 and 2013, according to a July 2011 forecast from Zenith Optimedia. Internet ad spending is expected to total about $72.18 billion USD this year, and reach $94.97 billion in 2013.